Inflation is:
A)a reduction in everyone's standard of living.
B)a rise in the real prices of all goods and services.
C)a general and continuing rise in the money prices of goods and services.
D)a continuing rise in everyone's standard of living.
E)an increase in the value of money compared to the value of goods.

Question

Quizplus · Accepted Answer

Inflation refers to a general and continuing rise in the money prices of goods and services. This means that the purchasing power of money decreases, leading to a rise in prices of goods and services over time. This can lead to a reduction in the standard of living for some individuals and can have negative effects on the economy as a whole.

Inflation Is